CR3910A-03: Banco Davivienda (Costa Rica), S.A.

For project inquiries, including environmental and social questions related to an IDB Invest investment, please contact the client or IDB Invest using the contact information provided above. As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism.
Tel:+1 (202) 623-3952
Fax: +1 (202) 312-4057
Address: 1300 New York Ave. NW Washington, DC. USA. 20577
E-mail: mecanismo@iadb.org or MICI@iadb.org

Project Group

Project

The Inter-American Investment Corporation (IIC) approved a loan of up to US$15 million to Banco Davivienda Costa Rica to support small and medium-sized enteprises (SMEs) in Costa Rica through medium- and long-term loans for their modernization and/or expansion, or through short-term working capital loans, pursuant to eligibility requirements to be established by the IIC.

Investment Summary

The purpose of this IIC operation is to provide Banco Davivienda Costa Rica with financing to support small and medium-sized enterprises (SMEs) in Costa Rica through medium- and long-term loans for their modernization and/or expansion, or through short-term working capital loans, pursuant to eligibility requirements to be established by the IIC.

Banco Davivienda Costa Rica was established in the early 1980s under the name of Banex. From its founding up to the present day, partnerships, mergers, and operations have helped consolidate the bank’s market position and standing.

Environmental and Social Disclosures

Review of Environmental, Social, and Labor Issues

Environmental Review:

Environmental and Labor Issues:

This is a category FI-3 project according to the IIC’s Environmental and Social Sustainability Policy because the subprojects in the financial intermediary’s current or future portfolio are considered low risk. Banco Davivienda Costa Rica has an Environmental and Social Management System (ESMS) in place, with an environment officer in charge of conducting environmental reviews of the institution’s lending operations to ensure they are in compliance with the ESMS. The subprojects financed with IIC funds will be subject to an environmental review to verify that they are not on the IIC’s list of excluded activities and that they comply with national environmental and occupational safety laws and standards. Banco Davivienda Costa Rica shall also submit annual environmental reports to the IIC detailing the use of its ESMS in evaluating these aspects of its transactions.